Videocon Industries clarifies on news item regarding West Bengal plans

With reference to the news items appearing in a leading financial titled "Videocon plans Rs 1,000 cr chip complex near Kolkata", Videocon Industries Ltd has clarified that as a part of the overall growth strategy of the Company, it continues to discuss various opportunities and proposals with different entities and agencies.

The Group has sizable presence in the State of West Bengal through one of the group Companies, and as such, the Company keep on evaluating the prospects for further growth in the State.

Although there are plans to go in for the projects as mentioned in the article, extent of the exact participation of the Company in the said projects is not yet finalized.

The stock closed the day at Rs.451, down by Rs.8.55 or 1.86%. The stock hit an intraday high of Rs.459.60 and low of Rs.445.25. The total traded quantity was 29094 shares compared to 2 week average of 47199.

Source : Equity Bulls

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